SARCO says Edraak International named as liquidator to dissolve ASCO

21/04/2021 Argaam

Logo of SARCO

Saudi Arabia Refineries Co. (SARCO) was informed by the legal adviser on April 20, 2021, that Edraak International Co. was appointed as a liquidator to succeed the office of Salih Al-Naim Accountants and Legal Auditors to dissolve Arab Sulfonate Co. (ASCO).

 

The liquidation process should be finalized within one year maximum from the final judgment date.

 

The judgement can be appealed in 30 days, the statement added.

 

In March 2018, a Saudi court ordered SARCO to dissolve its 34%-owned, financially troubled affiliate, ASCO, Argaam earlier reported.

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